Built in 1980's, some deferred maintenance, have not done inspection, I expect surprises--but since it is inhabitable I do not plan to make any value add changes until the bridge loan has been paid off. 

With respect to the rental - if it is inhabitable, advertise it for rent before you do any repairs or maintenance.

Of course, the condition may not be top notch, but all look inhabitable while you work on them. 

A property is only good as the tenants that inhabit it and the individuals that manage it.

And no, do not put dad on the lease, he is a guarantor only and has no rights to inhabit the property.

Then they realize they bought a property back at auction, wasted a bunch of money on legal fees, just to have possession to an inhabitable home until the bank gets around to foreclosing.

answer is: the owner of the property is responsible for all of that, since , technically, they are just leasing the house as a landlord. however, renters insurance would be smart of the inhabitants of the house.

Conventional loans usually lead to a slower close, and I am hoping to create the ability to work on multiple properties at the same time.In my experience, conventional lending requires the property to be inhabitable at the time of purchase, ie. roof, plumbing, etc.

It seems like a logical extension of the idea to pay rent to the property LLC for the space I inhabit - even though I hadn't consider that further rental income as well.I haven't had time to process DSCR, but I will certainly do so.

2: Due to the conditions being inhabitable should I refund the days of rent that was pre-paid (my answer is yes and it ended up being 4 days)?